Risikoteilung zwischen Banken und Kapitalmarkt

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Translation of abstract (English)

The thesis describes financial instruments applied to transfer micro- as well as macroeconomic bank risks to the capital market. Besides the well-known deposit insurance system, the concepts of narrow banking, deposit indexation and asset securitisation are briefly depicted. The latter constitutes the main focus of the thesis. In a first step the rationale of securitisation transactions and afterwards their regulatory treatment under the Basel I and Basel II frameworks as risk related valuation methods are described and analysed. In conclusion the securitisation concept is analysed with respect to moral hazard induced conflicts emerging from the current usage of securitisations as well as their economic implications regarding the above described risk sharing methods.